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Bit Digital stock gains on securing 5MW hosting capacity

Bit Digital stock gains on securing 5MW hosting capacity


Seeking Alpha
2022-08-03 12:34:16

Shares of Bit Digital (NASDAQ:BTBT) gained ~3% pre-market on Wednesday after the bitcoin mining company announced an agreement for 5MW of incremental hosting capacity to power its miners.The agreement was reached with a hydro-powered facility, located in Canada. The facility currently powers ~650 of Bit Digital's (BTBT) miners and is expected to accommodate 1,500 units over the coming months.The deal has an initial two-year term with automatic one-year renewals.


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